Rappi Investor Shut Out of $1 Billion SoftBank Tender, Suit Says

Rappi Inc., a Colombia-based startup that operates “delivery on demand” services throughout Latin America, was sued in Delaware by an early investor who claims he was wrongly shut out of a billion-dollar financing deal with nonparty SoftBank Group Corp.

The lawsuit also targets Sebastian Mejia, a Colombian national who co-founded the company and an affiliated ecommerce platform, Grability Inc., from which Rappi spun off. Grability is now “a dormant, tax-delinquent” company, while the privately held Rappi “unicorn” is worth more than $3 billion, according to the complaint.

It was filed Monday in the Chancery Court by Leon A. Malca, a ...